The Swiss firm released its first half 2018 results and reported a rise in gross profit, net income and assets under management.

The Swiss financial services firm, The Mirabaud Group, has reported a 34 per cent rise of net income in its half year results, compared with the results at 30 June 2017. It came in at SFr29.9 million (SFr22.3 million in the first half of 2017). This rise is due to a positive contribution from three business operations – wealth management, asset management, and brokerage.

Excluding operating expenses, the group's gross profit was SFr36.8 million (SFr 26.8 million at 30 June 2017). Assets under management increased by seven per cent year-on-year, as it weighed in at SFr33.4 billion, of which SFr8.8 billion was attributable to asset management.
 
At the end of the first half, revenue amounted to SFr174.0 million (SFr151.6 million in the same period in 2017), including fee income of SFr134.8 million (SFr116.9 million at 30 June 2017). The group reported a Tier 1 ratio of 20.6 per cent.

"These good results are in line with those achieved recently,” said senior managing partner, Yves Mirabaud. “They reflect the performance of our businesses in Switzerland and the rest of Europe, as well as in the United Arab Emirates and Canada. The positive contribution of our three business lines – wealth management, asset management and brokerage – gives us confidence in developing our strategy, which is designed to enable us to offer our private and institutional clients innovative and complementary high value-added services. Thanks to the Mirabaud Group's financial soundness, we can continue along the path that we have successfully followed for 200 years: investing in the long term and offering our clients customised and international expertise.”